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RSM International

RSM International

Industry: 
Accounting
States: 
IL
Country: 
England
Sources: 

RSM International confirmed its status as a "Corresponding Member" in Iran in the April 2010 issue of the International Accounting Bulletin.  

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RSM lists a corresponding firm in Iran on its company website. ("Contact Us," Company Website)

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"Advocacy group United Against Nuclear Iran (UANI) said it has succeeded in getting global accounting firm network RSM International to cut ties with an Iranian firm. Washington, D.C.-based UANI said RSM agreed to end its relationship with Dayarayan Auditing & Financial Services Firm in Tehran as of April 30. Chicago-based McGladreyformerly headquartered in Minneapolis, is RSM's only member firm in the United States. UANI CEO Mark Wallace, a former ambassador to the United Nations, asked RSM and McGladrey to sever the network's relationship with Dayarayan in March. He applauded RSM's decision Friday." (Minneapolis/St.Paul Business Journal, "McGladrey's accounting network will drop Iranian firm," 4/26/2013) 

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"RSM, a UK-based firm, and Crowe Horwath of the US have joined Grant Thornton, one of the second-tier international accountancy firms, in leaving Iran after coming under US political pressure... RSM said it would cease working with Dayarayan Auditing & Financial Services, while Crowe Horwath said it would cut ties with Hoshiyar/Behmand & Co." (Financial Times, "Three accounting firms pull out of Iran," 4/26/2013) 

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"Accounting firm McGladrey and global network RSM International are under pressure from a group that has successfully urged major companies to cut ties with Iranian partners. Washington, D.C.-based United Against Nuclear Iran asked RSM International CEO Jeans Stephens and McGladrey CEO Joe Adams to sever their business relationship with Dayarayan Auditing & Financial Services Firm in Tehran. RSM is an international network of accounting firms. McGladrey is RSM's sole United States member firm, and Dayarayan is RSM's the sole Iranian correspondent firm (RSM explains the difference between member and correspondent firms here.)... 'RSM should not enable the provision of such vital professional and financial services to the Iranian government, sanctioned entities and foreign companies in Iran at a time when the international community is working to economically isolate the regime in response to its nuclear program, support for terrorism and gross human rights violations,' wrote UANI CEO Mark Wallace, a former ambassador to the United Nations, in a letter to the chief executives at RSM and McGladrey. 'RSM should also consider how its Iran business dealings could affect its extensive business in the United States,' he continued, in reference to Chicago-based McGladrey, which until recently was headquartered in Minneapolis. I've asked McGladrey for the firm's take but have yet to get a comment. RSM couldn't be reached before publication. UANI spokesman Nathan Carleton said his group has been in contact with the accounting firms. 'We look forward to discussing this matter with RSM and McGladrey, and we are hopeful they will take the responsible action of ending their Iran exposure,' he said." (Minneapolis St. Paul Business Journal, "McGladrey, RSM urged to cut ties with Iranian accounting firm," 3/29/13)

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"The not-for-profit, non-partisan, advocacy group has written to the CEOs of Grant Thornton and RSM International and their counterparts in the US expressing concern about their 'apparent business dealings' with the country... In RSM’s case, he points out that the 2010 client list of its Iranian correspondent firm, Dayarayan Auditing and Financial Services Firm, included Iranian government bodies, energy firms and foreign companies. 'Among these clients are many sanctioned entities, such as the Islamic Republic of Iran Shipping Lines, the National Iranian Tanker Company, and Datak Telecom,' he says. 'UANI strongly believes that RSM should not enable the provision of such vital professional and financial services to the Iranian government, sanctioned entities and foreign companies in Iran at a time when the international community is working to economically isolate the regime in response to its nuclear program, support for terrorism and gross human rights violations.'" (Economia, "RSM and GT taken to task over Iran," 3/28/13)